While the movie opened at #1 on December 25, 2010 with P31,000,000 in ticket sales,[2] it was criticized for being predictable, having sexual innuendos, and having some home-truths as to how Filipino viewers idealize heroism and romance.[3] Also noted is how the film tries to play fair when it comes to mixing the two heroes together.

In an online review, Philbert Ortiz Dy described Si Agimat at Si Enteng Kabisote as "really nothing more than a commercial proposition" and that it "took the two highest grossing stars of Filmfests prior and stuffed them together with little rhyme or reason, putting them in the same fantasy adventure settings that made them so successful. There’s precious little love to be found within these frames, all the elements of the film existing for the pure fact that they worked before. This doesn’t even feel like the movie the filmmakers wanted to make."

Although the critical reception was not too good, the movie still ended making P159 million by the end of the festival and went on to have extended showings in theaters.